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Greetings!
I recently came across an interesting blog post entitled: Top 10 Reasons Why Entrepreneurs Hate Lawyers.
Written in David Letterman 'Top 10' style by corporate lawyer, Scott Walker, the post echoes many of the frustrations I've heard from entrepreneurs when they first come to see me.
What is fascinating to me about the list is that so many of the 'reasons' are easily solved by implementing a few simple business practices.
One business practice, in particular, that solves a chunk of these problems is fixed price billing.
Reasons number 8, 5 and 3 ("Because they are constantly over-lawyering", "Because they spend too much time on insignificant issues" and "Because their fees are through the roof") are either eliminated or significantly reduced with a fixed price billing arrangement.
With a fixed price the client and law firm agree to the fee up front. The client can determine at the time if the fee is 'through the roof' and, if it is, decline to go forward.
Spending too much time and 'over-lawyering' are also reduced with fixed prices because there's no incentive for the lawyer to spend more time than necessary to complete the work. The fee is set whether the lawyer spends five hours or 15. And, if the lawyer thinks the work is more complicated than the client, they can discuss their different perceptions when the fixed price is presented.
Lawyers as Deal-Killers.
I also love reason number 1: "Because [lawyers] are deal-killers." I believe this is true about many (if not most) lawyers because they're looking to eliminate all risk for their clients.
That just isn't possible in a business deal.
Plus it's arrogant and paternalistic. Who is the lawyer to say what is and is not acceptable for the client?
Instead, the lawyer must recognize that the client is an intelligent business owner capable of making risk evaluations for himself or herself. The lawyer's job is to identify the risk and suggest ways to minimize or avoid it, and to recognize remote risks that have a low likelihood of coming to fruition.
Personal Time.
After the two week cold snap at the beginning of the year, I couldn't wait to get back outside and on the water in the kayak.
So, weekend before last Faith and I went to Canaveral National Seashore for the day. I went kayaking in Mosquito Lagoon and she enjoyed the beach.
I've posted a video of some of the shots I took that day at:
http://www.youtube.com/watch?v=wFXd-T7QpQA
Have a look and post a comment.
We're continuing to grow Entrepreneurship Law Firm and appreciate your referrals. We'll take great care of them.
Please feel free to call me at 407-649-7777 if you'd like to talk directly.
Talk to you in a couple of weeks.
Ed
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